Costco is Raising Membership Fees Starting June 1st

Costco is boosting the price of its standard Gold Star membership by $5 to $60 a year. The Executive membership, which offers additional discounts and an annual reward on purchases, will go up $10 to $120 a year.

The company made the announcement on Thursday as it released its latest earnings, which disappointed Wall Street. Sales and profits were lower than expected. Shares of Costco (COST) fell 4% in early trading Friday.

Costco is facing tough competition from Sam’s Club, the warehouse company owned by Walmart, and Target. Both have lowered prices to woo more customers.

Read More at CNN Money

 

Published March 3rd, 2017